Overseas investors will start bringing their money back to Russia soon, after they realize the country’s economy is “entering a new track,” according to Russia’s Deputy Finance Minister Aleksey Moiseev.

“I see that … the
economy isn’t en route to an abyss, but is very actively changing
lane, much faster than all of us had expected just a couple of
months ago and it is entering a new track”, Moiseev said
Thursday at a Moscow Exchange forum.

“The infrastructure of our financial market is now in the
best shape among other BRICS countries,” Moiseev told RBC.
He added that currently about a quarter of the investors holding
federal loan bonds (OFZ) are foreign.

“… they [foreign investors – Ed.] almost haven’t left, now
because the yields are growing and the inflation is sharply going
down. Of course we expect their interest to resume,” he
said.

The ministry also
expects that Russian economy will turn to growth in 2016. Most
analysts expect the Russian economy to contract between 3 and 4
percent in 2015.

Sentiment towards the Russian economy has changed recently, as
more economists across the world agree it's showing success. Most
recently, a Bloomberg View contributor, Leonid Bershidsky,
admitted that President Putin’s economic team was doing miracles,
as it managed to avert the panic that grasped markets last year
when oil prices and the Russian ruble started to plunge.

The GDP data published Wednesday was better most expected as it
showed the Russian economy expanded 0.4 percent between November
and December last year. Most analysts expected it to be flat.
Economy Minister Alexei Ulyukayev was also optimistic and expects
an average 2.5 percent annual growth between 2016 and 2018. The
Russian ruble is improving for a second consecutive session on
Thursday, helped by higher oil and the dollar easing against
other major currencies. The ruble added 1.3 percent against the
US dollar to 56.5, following a 1.02 percent gain on Wednesday.

The World Bank, however, forecast Wednesday that Russia's GDP
would contract by 3.8 percent in 2015 and fall by another 0.3
percent in 2016.